SP500 Trade Opportunities H1 Chart
Pattern /Reason: Fractal Trendline Breakout / Bullish Cypher Pattern.
Time Frame: H1
Accuracy of the Pattern: 89%
Setup No: SP240601
Recommended Lot: 0.20
Trade Period: Scalping / Intraday
Stop Loss: 2960
TP1: 2936 / Reached
TP2: 2920 / Reached
Note: If the short trade works as predicted,
Divergence/ Convergence Confirmation: RSI DIVERGENCE H4 CHART
Candle Pattern Confirmation: —–
Moving Average Confirmation: SMA20 Breakout
The trend of the Timeframe: Neutral
The trend in the Daily Chart: Bullish
NOTE: White Swan and Bullish Cypher pattern would be completed at 2920. These patterns can be used as a buying opportunity.
Warning and Things to Pay Attention:
- Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
- Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
- Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
- Do not risk more than 2% in one trade setup.
- We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
- We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.